Corporate Governance in Thailand

This paper is one four corporate governance country reports, part of a 2003 Asia Development Bank Institute (ADBI) project entitled Review of Corporate Governance in Crisis-Hit Asia. The country papers, covering Indonesia, Republic of Korea, Thailand, and Malaysia, are based on the examination of relevant regulatory frameworks as well as a firm-level questionnaire survey conducted in each country. The following issues are addressed: review of recent regulatory reform on corporate governance; shareholders' role in corporate governance and major constraints; effectiveness of the boards of directors; role of other stakeholders in corporate governance especially banks and employees; and an analysis of the relationship between corporate governance quality and firm performance.